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Whirlpool China Q1 profit climbs YOY

Whirlpool China Co. Ltd. said its normalized net income for the first quarter amounted to 12 fen per share, an increase from 12 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.5 million yuan, an increase from 88.8 million yuan in the year-earlier period.

The normalized profit margin rose to 6.3% from 5.8% in the year-earlier period.

Total revenue rose on an annual basis to 1.55 billion yuan from 1.53 billion yuan, and total operating expenses came to 1.41 billion yuan, compared with 1.41 billion yuan in the year-earlier period.

Reported net income grew 14.8% from the prior-year period to 129.8 million yuan, or 17 fen per share, from 113.0 million yuan, or 15 fen per share.

As of April 27, US$1 was equivalent to 6.50 yuan.